What's Going On With C3is Stock?

Citizens Svgs Bk & Tr Co Com -3.87%

Citizens Svgs Bk & Tr Co Com

CISS

1.61

-3.87%

C3is Inc. (NASDAQ:CISS) shares are volatile Tuesday after an SEC filing showed S.H.N. Financial reported a 9.1% stake in the company.

What To Know: What’s Going On With C3is Stock?

C3is is a penny stock with a volatile recent history. The stock traded sideways Monday after falling more than 13% last Friday following a 20% gain last Thursday.

C3is shares are moving on heavy trading volume Tuesday with more than 68.3 million shares already traded in the session. According to data from Benzinga Pro, the stock’s 100-day average volume is 4.486 million shares. 11.81% of shares are being sold short which may be contributing to the stock’s move when combined with its heavy trading volume.

C3is Inc. is a provider of international seaborne transportation services to dry bulk charterers, including major national and private industrial users, commodity producers and traders. The company owns and operates a fleet of two dry bulk carriers, and the total cargo-carrying capacity of its fleet is approximately 64,000 dwt.

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CISS Stock Prediction 2024

Equity research analysts on and off Wall Street typically use earnings growth and fundamental research as a form of valuation and forecasting. But many in trading turn to technical analysis as a way to form predictive models for share price trajectory.

Some investors look to trends to help forecast where they believe a stock could trade at a certain point in the future. Looking at C3is, an investor could make an assessment about a stock's long term prospects using a moving average and trend line. If they believe a stock will remain above the moving average, which many believe is a bullish signal, they can extrapolate that trend into the future using a trend line. For C3is, the 200-day moving average sits at $0.76, according to Benzinga Pro, which is above the current price of $0.15. For more on charts and trend lines, see a description here.

Traders believe that when a stock is above its moving average, it is a generally bullish signal, and when it crosses below, it is a more negative signal. Investors could use trend lines to make an educated guess about where a stock could trade at a later date if conditions remain stable.

CISS Price Action: According to Benzinga Pro, C3is shares are up 11.6% at 15 cents at the time of publication.

Image: Pexels from Pixabay

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